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Jim Grant’s Grant’s Interest Rate Observer is a bible of sorts for the highly sophisticated slice of Wall Street focused on the machinations in the bond market. That should be everyone, of course, because what happens in the bond market is often the leading indicator of where the financial markets are headed. And where the financial markets go, economic policy soon follows, as Donald Trump discovered after “Liberation Day” and his nutty trade war, which is nothing more than another sales tax on American consumers. (But let’s talk about how much money the tariffs are generating, right, Donald?)
